Kanawha Capital Management LLC Reduces Holdings in ITT Inc. (NYSE:ITT)

Kanawha Capital Management LLC cut its holdings in shares of ITT Inc. (NYSE:ITT) by 15.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,765 shares of the conglomerate’s stock after selling 500 shares during the period. Kanawha Capital Management LLC’s holdings in ITT were worth $413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ITT. Norden Group LLC acquired a new position in shares of ITT in the 1st quarter valued at approximately $211,000. First Trust Direct Indexing L.P. acquired a new position in ITT during the 1st quarter worth $205,000. BNP Paribas Financial Markets increased its holdings in ITT by 20.3% in the first quarter. BNP Paribas Financial Markets now owns 14,689 shares of the conglomerate’s stock valued at $1,998,000 after buying an additional 2,483 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of ITT by 0.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 27,424 shares of the conglomerate’s stock valued at $3,731,000 after acquiring an additional 159 shares during the last quarter. Finally, AA Financial Advisors LLC acquired a new stake in shares of ITT during the first quarter worth $204,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ITT. The Goldman Sachs Group increased their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird reduced their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. KeyCorp raised their price objective on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Stifel Nicolaus upped their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen increased their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT has a consensus rating of “Buy” and an average target price of $157.78.

ITT Price Performance

Shares of ITT opened at $141.26 on Tuesday. The business’s 50-day moving average is $142.94 and its 200-day moving average is $136.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.10. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 1.86 and a beta of 1.41. ITT Inc. has a fifty-two week low of $99.52 and a fifty-two week high of $153.99.

ITT (NYSE:ITT) last released its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same quarter in the prior year, the firm earned $1.37 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that ITT Inc. will post 5.82 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.319 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.90%. ITT’s dividend payout ratio (DPR) is currently 21.84%.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.